RIL Q3 earnings today: Stock up 20% since Sept quarter results; trading near record high

Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) are trading near record high ahead of Q3 earnings set to be announced today. Earnings for the September 2023 quarter were announced on October 27, 2023. The stock has rallied 20% since Q2 earnings.

The RIL stock opened higher at Rs 2753 today against the previous close of Rs 2734.90 on BSE.

At 9:43 am, RIL shares were trading flat at Rs 2728.75. The stock hit a record high of Rs 2792.65 on January 15, 2024 and fell to a 52 week low of Rs 2012.14 on March 20, 2023.

The stock saw turnover of Rs 10.88 crore after 0.40 lakh shares changed hands on BSE. RIL stock has risen 12.24% in a year.

It has seen low volatility in one year with a beta of 0.3.

Also read: RIL Q3 results: Nomura India shares view, stock price target ahead of earnings

Market cap of Reliance Industries stood at Rs 18.41 lakh crore on BSE.

The stock is neither overbought nor oversold on technical charts with its relative strength index (RSI) at 68.6. Reliance Industries shares are trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages, signaling the stock is trading in bullish zone.

Net profit in Q3 is expected to rise 1.5 per cent YoY to Rs 16,036.40 crore from Rs 15,792 crore in the corresponding quarter last year, according to Systematix Shares and Stocks. Revenue is seen climbing 12.2 per cent YoY to Rs 2,43,625 crore from Rs 2,17,164 crore in the corresponding quarter last year.

Kotak Institutional Equities sees profit climbing 3 per cent YoY to Rs 16,217 crore on 8 per cent rise in sales at Rs 2,34,641 crore.

Kotak said EBITDA for Reliance Jio may rise 3.5 per cent sequentially, on account of 1.2 crore additions in subscribers.

Prabhudas Lilladher expects flattish bottom line in Q3 at Rs 15,790 crore on a 10.2 per cent jump in top line at Rs 2,39,270 crore.

In Q2 of the current fiscal, Reliance Industries reported a 27% jump in consolidated net profit (attributable to owners of the company) at Rs 17,394 crore boosted by strength in its mainstay oil-to-chemicals (O2C) business. It reported consolidated net profit of Rs 13,656 crore in the year-ago period. The company posted lower margins following a fall in refined fuel prices.

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